VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 5, 2016) - Zazu Metals Corporation (TSX:ZAZ) ("Zazu" or the "Company") announced today that, further to the press release of June 14, 2016, and review by the Toronto Stock Exchange (the "TSX") of the eligibility for continued listing, Zazu has applied to voluntarily delist its common shares from the TSX and list them on the TSX Venture Exchange (the "TSX-V") through the streamlined listing procedures of the TSX-V.
The Corporation has initiated discussions with the TSX-V and plans to complete this process within the timing of listing extensions granted by the TSX. It is expected that the common shares will be delisted from the TSX within 30 to 60 days. The Corporation will issue a subsequent news release at least 10 business days in advance of Zazu's delisting from the TSX and the concurrent listing on the TSX-V. Listing of the common shares on the TSX-V is subject to acceptance by the TSX-V.
The directors of the Company believe that a listing on the TSX-V will provide for greater operational efficiency and lower costs for the Company while allowing shareholders continued liquidity on a recognized exchange.
The delisting is not expected to have any impact on the Company's ongoing operations, nor on its ability to raise further funds, if required, to progress the continued development of its projects.
About Zazu Metals:
Zazu is a Canadian-based exploration company with a 50% operating interest in the Lik zinc - lead - silver deposit in Northwest Alaska, which is large tonnage, high grade and potentially open pittable. Zazu completed a positive PEA in 2014 and has the exclusive right to obtain 80% of the property by meeting certain spending commitments by 2018.
Additional information about Zazu including a company presentation is available at www.zazumetals.com.
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, the ability of the Company to obtain extensions from the TSX while it seeks to list the common shares of the Company on an alternative stock exchange in Canada, the ability to actually list the common shares of the Company on an alternative stock exchange in Canada within the prescribed extensions of the TSX or at all, results of project development, capital and reclamation costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: failure of the TSX-V to list the common shares before or after the expiry of a listing extension granted by the TSX and an inability to find alternative trading market whereupon a holding of common shares of the Company becomes illiquid; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; discrepancies between estimated and actual resources and metallurgical recoveries; uncertainties inherent to economic studies in respect of the preliminary economic assessment; changes in project parameters as plans continue to be refined; ability to construct the necessary extension to the road access and any requirements for port modifications; litigation, legislative, environmental and other judicial, regulatory (including licenses and permits), political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.